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NAPA Net Staff
By NAPA Net Staff | 11/18/2013
Last week’s top five most-read posts on NAPA Net reflected keen interest in the secrets of 401(k) millionaires, Bank of America’s decision to move its 401(k) plan in-house, New York’s investigation of its pension advisors, five reasons why introverts make better leaders, and how larger plans are...
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By NAPA Net Staff | 11/18/2013
American Century Investments announced the launch of Plan Health Pro, a new tool aimed at helping retirement plan advisors and sponsors assess plan effectiveness for better participant outcomes. Plan Health Pro is an online resource designed to help determine overall retirement plan health. Using a...
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By NAPA Net Staff | 11/15/2013
The 2014 NAPA 401(k) Summit will be a seminal event for a number of reasons, including the fact that it will be the first time that the Summit, launched by ASPPA, will be branded exclusively as a NAPA event. As advisors and event sponsors grow weary of the many industry events — with some...
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By NAPA Net Staff | 11/15/2013
Great-West Financial has appointed Andrew Gracan, an experienced sales leader, as regional sales director of national accounts for its Northeast market. Gracan is responsible for sales of 401(k) and 403(b) products to sponsors of large-market corporate and nonprofit organizations in Maine, Vermont...
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By NAPA Net Staff | 11/14/2013
The Principal Financial Group introduced a retirement education program designed to encourage Hispanic employees to participate more in retirement plans. Research from The Principal shows Hispanic workers born outside of the United States have the lowest retirement plan participation rate of all...
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By NAPA Net Staff | 11/14/2013
Charles Schwab CEO Walter Bettinger has called for a transformation of the 401(k) industry by slashing fees and providing participants with objective and customized advice autonomous from the plan’s consultants. “It’s finally time to put the interests of the average hard working American first,”...
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By NAPA Net Staff | 11/12/2013
Last week’s top five most-read posts on NAPA Net reflected keen interest in the advantages of rollovers for advisor fiduciaries, signs you may be hiring the wrong person, DC plan fee best practices, the likelihood of advisor growth in the DC market, and survey results highlighting the impact of fee...
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By NAPA Net Staff | 11/12/2013
Capitalized under $25 million, small businesses represent more than 99% of all companies in America — and yet nearly 72% of small business employees do not have access to a retirement plan. As these statistics illustrate, the small business community is underserved with respect to retirement...
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By NAPA Net Staff | 11/11/2013
Members of NAPA have the opportunity to nominate an advisor to serve on the 2014 NAPA Leadership Council — but only through the middle of next month. Two voting advisor members and one firm partner representative will rotate off the Leadership Council in 2014. The Nominating Committee is accepting...
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By NAPA Net Staff | 11/8/2013
Morningstar has upgraded its ratings of Charles Schwab’s target date funds from “negative” to “neutral” due to improved performance. Senior mutual fund analyst Josh Charlson of Morningstar cites leadership changes and increased stability as drivers of the upgrade.The new rating is a stark contrast...
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By NAPA Net Staff | 11/7/2013
Bank of America is moving its $19 billion 401(k) plan to its own Bank of America Merrill Lynch institutional retirement platform early in 2015, six years after the bank bought Merrill Lynch. Bank of America's 401(k) plan, which serves more than 300,000 participants, is currently managed by Fidelity...
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By NAPA Net Staff | 11/5/2013
MassMutual is rounding out its retirement plan market leadership team with the addition industry veteran Mike DiCenso, who took on the role of market leader for the institutional segment effective Nov. 4, 2013. In this newly created role, DiCenso is responsible for strategy and business development...
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By NAPA Net Staff | 11/5/2013
Invesco last week reported assets under management of $745.5 billion as of Sept. 30, up 5.7% from the end of the previous quarter and up 12.4% from last year. Net inflows in Q3 were $9.1 billion, compared with net inflows of $1.4 billion in Q2 and net inflows of $11.4 billion in Q3 of 2012.Long-...
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By NAPA Net Staff | 11/4/2013
Last week’s top five most-read posts on NAPA Net reflected keen interest in the House of Representatives’ approval of a bill that delays the definition of fiduciary, release of the 2014 IRS pension limits, wire houses navigating the fiduciary landscape, the lifetime income dilemma in DC plans, and...
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By NAPA Net Staff | 11/1/2013
It’s abundantly clear the 2014 NAPA 401(k) Summit, to be held in New Orleans, March 23-25, 2014, will be the conference to attend in the retirement plan industry next year. Attendance is the doorway to accessing a vast audience of industry players, big and small alike. This year, NAPA is launching...
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By NAPA Net Staff | 11/1/2013
LPL Financial roped in huge recruiting numbers for Q3, adding 154 net new registered representatives and advisors for the three-month period ended Sept. 30.The robust quarter brings LPL's 12-month recruiting tally to 393 net new reps and advisors, putting the industry's largest independent broker...
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By NAPA Net Staff | 11/1/2013
This article originally appeared in the Fall 2013 issue of NAPA Net the Magazine. To view a PDF version of this article, click HERE. Now that the entire market — not just advisors and providers — is focused on fees, a fundamental question is being asked: Who owns the revenue generated from the...
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